Chief Accountant
Alinma Tokio Marine
مجموع سنوات الخبرة :20 years, 4 أشهر
While working as the Chief Accountant at ATMC I have enhanced my skills relating to Finance and Accounting and have also gained experience of working in the Industry in a Finance position.
• Manages Accounting and Finance functions which includes preparing Board and Audit Committee packs in close coordination with CEO and CFO, ensuring accuracy of Books, Management Reports and Financial Statements, and compliance with IFRSs and SAMA regulations;
• Supervises technical and non-technical monthly closing procedures
• Reviews monthly, quarterly and end of year financial statements;
• Ensures accuracy of operational data required in the preparation of technical reserves;
• Coordinates with statutory auditors for quarterly / annual audits;
• Prepares packages for reporting financial numbers to SAMA, CMA and Tadawul;
• Ensures liquidity needs of the company are adequately fulfilled;
• Identifies and evaluates Investment Avenues on a continuous basis;
• Sets individual objectives, manages performance, develops and motivates staff through formal and informal feedback and periodic appraisal to maximize the output;
• Designs and Operates Internal Controls and Financial Procedures; and
• Gathers and compiles VAT return data from various sources in the Company and Submits on a monthly basis to the tax advisers.
Besides my core responsibilities as a Finance person, during the three-year journey at ATMC, I have had a very rich exposure and have contributed in several projects including:
Owner - Core accounting software implementation for general insurance business (Eskadenia)
• Represented Finance in Steering Committee meetings and ensure Project Manager’s reporting represent true status of the project
• Ensured all business and accounting requirements are correctly reflected and captured along with process flows in Business Requirement Documents.
• Lead meeting / workshops with the vendor and technical teams on regular basis and provide direction to the outstanding issues.
• Ensured all UAT test scenarios are adequately captured and executed
• Supervise Go-Live end to end
Project In charge - Implementation of GAZT’s VAT regulations
• Attended various seminars from EY, AL Bassam PKF and GAZT to obtain thorough understanding of the VAT regulations for Insurance companies
• Prepared and presented VAT requirements and gap analysis presentations for senior management at ATMC
• Conducted VAT readiness and VAT implementation exercises to ascertain the areas which will be critically effected by the VAT regulations and would require the most time in complying with the regulations;
• Prepared detailed end to end process flows for the entire organization identifying areas where VAT will have an impact and documenting what actions are required to comply with VAT regulations, also incorporating a backup plan if implementation does not get effected as per the deadline.
• Conducted detailed testing across all functions of the organization to ensure expected outcome is in line with the regulatory requirements and provided feedback on day to day basis for all issues reported
• Successfully launched the VAT module in line with the regulatory deadlines
Assisted Head of Finance in SR 250 Million Rights Issue
Project Team Member - Upgradation of Core accounting software (PREMIA-9 to PREMIA-10)
Company liaison with the outsourced Internal Audit service providers for 2 years
•Liaison with Capital Market Authority on day to day Compliance related matters
•Documenting Compliance Policies and procedures
•Reviewing weekly, monthly, quarterly and annual CMA reports
•Reporting to the Compliance Committee on various Compliance matters
•Quarterly reporting to the BOD on critical Compliance matters
Most recently in line with my job profile at Alistithmar Capital I completely handled a full scale CMA inspection. The CMA inspection team stayed at our premises for almost a month and reviewed all aspects of Alistithmar Capital’s securities business and sales practices, its records, systems, controls and procedures to ensure its compliance with CMA regulatory requirements. The inspection also covered operational and internal control processes. During this period we not only provided them with their detailed list of deliverables but also worked with them in conducting interviews and providing an understanding of the various businesses our company is involved in. The overall inspection went smooth and was efficiently and effectively concluded.
As part of Compliance Annual Review Plan we conducted a detailed Mock Inspection during the year 2013. We conducted the Mock Inspection in line with the detailed and comprehensive regulatory requirements from CMA. The Mock inspection also covered all ICAP Businesses, Operations, Control Functions and Governance requirements. Our report was presented and discussed with the BoD and a number of issues highlighted were closed before the actual CMA inspection.
As part of my ongoing and annual Compliance review plan at Alistithmar Capital, We reviewed the complete Account Opening process, changes in the Account Opening documentation requirements, Changes in AML-CTF requirements and any development in the Industry best practices. We revised our account opening process not only on an annual basis but also if any new regulation came into effect during the year.
At ICAP during the year 2013, I prepared the Annual Compliance Monitoring Program, Employee Dealing Policies and Procedures manual and Chinese Walls Policy. All of these were prepared in line with the Regulatory requirements and the Industry best practices. Further all of these were approved by the ICAP BoD and are now in full effect for which monthly monitoring is also being done by compliance team.
Key Clients supervised:
● Capital Market Authority: Worked with the apex regulator of the Kingdom in conducting system audit/inspection of Asset Management Companies.
● Saudi Arabian Monitoring Agency: Worked with SAMA team to review implementation of SAMA guidelines on SAMBA bank.
● MEFIC Capital and SAIB BNPP. Supported client to develop and update their operational, compliance and corporate governance framework.
● SAMBA: Review of account opening and AML monitoring cycle at SAMBA.
● SAIB BNPP: At Job In charge and provided Internal Audit Services on various Business Areas like.
● Arabia Insurance, Wala’a Insurance: Performed duties as internal auditors and have prepared internal audit plan for three years and on quarterly basis executed audit for areas specified in the audit plan.
● Mobily: Worked as Team Leader and conducted Internal Audit of the Contract and Procurement Department by utilizing CAATs like ACL and Idea to perform detailed data analytics.
● Dallah Hospital: Team Leader and provided Internal Audit Services.
•Assurance and Business Advisory Services
•Risk Advisory Services
•Transaction Advisory Services
As an audit senior, I have been involved in performing statutory annual audits, half yearly reviews and other varied audit related engagements. I have been a part of audit teams for a portfolio of assurance clients ensuring timely completion of tasks. My responsibilities include engagement management, client relationship management, coordination with professionals of various fields like Legal, Actuarial & IT and decision-making for resolution of critical reportable matters.
My experience in the ABAS Group of the firm has enabled me to develop a comprehensive understanding of the competitive and regulatory environments of diversified industries and the accounting and internal control systems, implemented at various organizations.
Key Clients supervised:
● Allied Bank & Bank Alfalah - Implementation of COSO framework & PCAOB-2 Guidelines
● A foreign Multinational Islamic Bank - Feasibility Report on the Pakistan Financial Sector
● PICIC & PICIC Asset Management - Due Diligence for Merger
● Novartis Pharma Pakistan - External Audit, Fixed Asset and Branch Review Assignment
● United Bank Ltd, Bank of Punjab & KASB Bank - External Audits and Branch Reviews
● Adamjee Insurance, Pakistan National Shipping Corporation & Toyota Pakistan - External Audits
CME 1 and CME 2